Elevance Health (ELV) FY2019 results: revenue $104.2 billion, up 13.1% on the year
Elevance Health, Inc. (ELV) reported revenue of $104.2 billion for fiscal 2019, the year ended 31 December 2019, up 13.1% on the year before. Net income was $4.8 billion, up 28.2%, and diluted earnings per share $18.47. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2020.
Revenue
$104.2 billion
+13.1% on the year
FY2012FY2019
Operating margin
5.8%
5.9% a year earlier
FY2012FY2019
Net income
$4.8 billion
+28.2% on the year
FY2012FY2019
Diluted EPS
$18.47
+30.2% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
104,213
92,105
90,039
+13.1%
Cost of revenue
1,992
0.0
0.0
Gross profit
102,221
92,105
90,039
+11.0%
Gross margin
98.1%
100.0%
100.0%
Selling, general and administrative
13,364
14,020
12,650
-4.7%
Operating income
5,999
5,426
4,175
+10.6%
Operating margin
5.8%
5.9%
4.6%
Interest expense
746
753
739
-0.9%
Pre-tax income
5,985
5,068
3,964
+18.1%
Income tax
1,178
1,318
121
-10.6%
Effective tax rate
19.7%
26.0%
3.1%
Net income
4,807
3,750
3,843
+28.2%
Net margin
4.6%
4.1%
4.3%
Diluted EPS
$18.47
$14.19
$14.35
+30.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
6,061
3,827
4,185
+58.4%
Capital expenditure
1,077
1,208
791
-10.8%
Free cash flow
4,984
2,619
3,394
+90.3%
Free cash flow margin
4.8%
2.8%
3.8%
Cash from investing
-2,792
-1,259
-5,082
Cash from financing
-2,266
-2,241
427
Depreciation and amortisation
1,133
1,132
280
+0.1%
Share-based compensation
294
226
170
+30.1%
Buybacks
1,701
1,685
1,998
+0.9%
Dividends paid
818
776
705
+5.4%
Dividend per share
$3.20
$3.00
$2.70
+6.7%
Diluted shares, weighted
260m
264m
268m
-1.5%
Shares outstanding at period end
253m
257m
256m
-1.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
31,728
28,541
26,503
+11.2%
Non-controlling interest
n/a
26.0
n/a
Debt
20,085
19,211
19,932
+4.5%
Other liabilities
25,640
23,793
24,105
+7.8%
Total liabilities and equity
77,453
71,571
70,540
+8.2%
Fixed assets
3,133
2,735
2,175
+14.6%
Goodwill
20,500
20,504
19,231
-0.0%
Intangible assets
8,674
9,007
8,368
-3.7%
Investments
20,181
17,179
17,938
+17.5%
Cash and equivalents
4,937
3,934
3,609
+25.5%
Other assets
20,028
18,212
19,218
+10.0%
Total assets
77,453
71,571
70,540
+8.2%
10-K for the year ended 31 December 2019, filed 19 February 2020: the filing.